Why you should order an appraisal from Astute Appraisals, Inc.
To many, an appraisal just looks like a line item in the long list of items for a home sale or refinance. And even though there are an increasing number of automated home valuation methods that may appear less expensive than an appraisal, most lenders still want a local expert because the stakes are incredibly high. You might think that getting a mortgage is the only basis for getting an appraisal, but there are additional cases when the services of a certified, independent real estate professional could come in handy.
Appeal your tax assessment
It's quite possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are based upon a past assessment of your home, so if prices have gone down in your neighborhood, you can appeal your assessment and save money. An appraisal from Astute Appraisals, Inc. is your best evidence when building your case. We're capable of assisting you in disputing your tax assessment.
Remove PMI to lower your mortgage payment
Private Mortgage Insurance, or PMI, is an extra insurance policy that nearly all lenders ask buyers to buy when the amount being loaned to the home owner is more than 80% of the actual value of the real estate. Most often, this extra payment is bundled into the monthly mortgage payment and is soon forgotten. This is bad because PMI is no longer required when the remainder of the loan - whether through market appreciation or principal pay down - falls below the 80% level. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to eliminate the PMI installments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Astute Appraisals, Inc. will give you a statement regarding the value of your home. The price you paid for the appraisal can usually be regained in little time because you'll no longer be paying the PMI.
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Settle a divorce with fewer hang-ups
A divorce can be a very traumatic ordeal for both parties, and it is often more complicated by the hard decision of who keeps the property. Regardless of the situation, it's a good idea to order an appraisal from Astute Appraisals, Inc. so both parties are entirely aware of the true market value of their home.
If the parties need to sell the home, they'll have a clearer picture of what price to set. And on the flip side, if a "buyout" is the chosen option, both parties will feel like they've received a fair assessment.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often entails an appraisal to establish Fair Market Value for the residential property involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, guaranteeing the utmost degree of discretion.
Unlike wealthier individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up a disproportionate share of the total estate value, so knowing the true worth of the real estate at hand is of vital importance to ensuring disputing parties leave knowing they've gotten a fair deal.
Relocate to or from Howard County through an employee relocation program
We are familiar with the stress associated with an employee relocation. That's why we take great care in setting up a convenient appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide feedback on the positive characteristics of their property, along with information regarding any recent sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
Whether you want to sell your home on your own or use the assistance of a real estate agent, a professional appraisal can help you make a more informed decision when determining your selling price. An appraiser has no vested interest in what price the house sells for, apart from real estate agents. Our fees depend on our efforts to finish the appraisal report and not a percentage of the sales price.
We analyze the difference in value items like an extra bathroom or a kitchen remodel can make on a daily basis. And we're experts in knowing how long propertiesstay on the market. So, getting a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time.